BlockBeats news, on April 17, Kraken’s parent company Payward announced it will acquire the crypto derivatives platform Bitnomial in a transaction valued up to $550 million, payable in cash and stock.
This transaction will enable Payward to obtain the three core licenses required for a U.S.-compliant derivatives business—broker-dealer, clearinghouse, and exchange licenses—in a single step, significantly shortening its compliance timeline in the U.S. market.
Payward’s co-CEO stated that the core of the derivatives market lies in clearing infrastructure, and Bitnomial’s capabilities in settlement, collateral management, and 24/7 trading were key to the acquisition’s value.
On the business level, the integrated platform will combine Bitnomial’s compliance framework with Kraken’s and NinjaTrader’s liquidity and distribution capabilities to offer products including spot leverage, perpetual contracts, and options to the U.S. market, all regulated by the Commodity Futures Trading Commission.
In addition, this transaction will strengthen Payward’s B2B infrastructure business, enabling banks, fintech companies, and broker-dealers to access the U.S. regulated crypto derivatives market through a single API.
Contextually, Kraken is continuously enhancing its multi-asset and institutional-grade trading capabilities through acquisitions. Previously, in 2025, it acquired the futures platform NinjaTrader for approximately $1.5 billion, further expanding into the U.S. derivatives market. The transaction is expected to be completed in the first half of 2026, subject to customary conditions including regulatory approvals.